CEO to quit Fiat or Chrysler within two years

Running both Fiat and Chrysler is proving a massive responsibility for the CEO of both manufacturers, Mr Sergio Marchionne. Speaking yesterday in Washington DC, Mr Marchionne said he plans to resign from one of the two positions sometime within the next 24 months.

Though not set in concrete, Mr Marchionne did strongly hint which company would soldier on without his leadership.

“This cannot go on forever,” said Mr Marchionne. “Certainly within the next 24 months, we’ll find a more permanent solution, either there (in Italy) or here. I’m not threatening the Italian side with a departure from Italy, but we need to find a solution.”

Mr Marchionne said that his primary focus is on turning Chrysler around in order to pay back American taxpayers. Chrysler received significant low-interest loans from the US Treasury earlier this year.

“We are not planning miracles at Chrysler,” he said. “We deliver what we promise.”